NEW DELHI: The Supreme Court has objected to Sebi not closing proceedings against former directors of Sterling Biotech (SBL), Nitin and Chetan Sandesara, despite its directions to quash all pending criminal cases – pertaning to bank fraud – after they paid Rs 5,100 crore in court.A bench of Justices J K Maheshwari and A S Chandurkar agreed to hear the complaint of the Sandesara brothers and posted hearing to March 23. It asked why Sebi was “coming in the way” of the court’s order to close all cases against them.In a first-of-its-kind order to drop criminal proceedings in a multi-crore bank fraud case after the accused agreed to pay back the money, SC had last year allowed the brothers and their associates to be let off after the Centre and Enforcement Directorate agreed to their proposal to pay Rs 5,100 crore as one-time settlement to put quietus on litigations with respect to cases by CBI, ED, SFIO and I-T department.Israel Iran WarUS-Israel-Iran War News Live Updates: US pounds Iranian missile sites near key Strait of Hormuz; Iran rains down cluster bombs on Tel AvivUAE, Saudi Arabia, Kuwait, Qatar and Bahrain announces official start date of Eid Al Fitr 2026‘Trust completely shattered’: Saudi Arabia warns Iran of military retaliation after wave of Gulf attacksThey, thereafter, deposited the amount. SC had said continuation of criminal proceedings would not serve any useful purpose, considering that public money is coming back to lender banks.SC on Monday will also decide an application of local lenders, led by SBI, seeking directions for disbursal of their respective claim amounts deposited with the court’s registry by the Sandesara brothers. The lenders placed a chart showing dues of the lender banks and their respective share to be distributed.End of ArticleFollow Us On Social MediaVideos’Urgent Need For De-Escalation’: PM Modi Speaks To French President Macron On West Asia ConflictMEA Receives Consular Access Request After Arrest Of Six Ukrainians By NIA’Condemnable’: PM Modi Dials Jordan’s King, Slams Attacks On Energy Infra In West Asia’Including Russia’: MEA’s Key Message On India’s LPG, Crude Oil Sourcing Amid Global Energy Crisis’Clandestine Nuclear Nonproliferation’: India Reacts To US Intel Chief’s Remarks On Pakistan’Concerning, But No Shortage’: Centre On LPG Situation, Warns Against Hoarding & Black MarketingSC Flags “Very Unusual” Situation, Seeks Remedy Over Mamata ‘Obstructing’ ED ChargeWar, Oil & Economy: Big Risks Ahead for India Explained’India Doing The Right Thing’: Congress Backs Modi Govt On Iran War, Tewari Says ‘Not Our War’Karti Chidambaram on TN Polls: ‘Stalin Way Ahead, Vijay’s Star Power Not Enough, BJP Has No Ground’123PhotostoriesEid 2026: How to make classic Hyderabadi Haleem at home for the celebrationWhat do atronauts eat? 8 categories of space food designed to keep them healthyThe ‘wall up’ test: A simple daily check to detect hidden back pain, posture issues, and protect your spine healthEid AI photo editing prompts: Google Gemini AI prompts for Eid-ul-Fitr 2026 celebrations on Instagram, WhatsApp status, and FacebookRedditor skips dinner on first meeting after woman arrives an hour late: 5 etiquettes to follow when on a date6 animals that survive without drinking water and how they do it5 dreamy places in India that resemble European destinationsFrom having no contact with ex-CEO of Astronomer Andy Byron to struggling for a job: 5 big revelations by Kristin Cabot- the Coldplay Kiss Cam scandal womanYour heart after 30: Hidden changes that raise disease risk, and simple lifestyle fixes to protect it early9 must-try Rice desserts from different corners of the world123Hot PicksChina oil tankersMPsfarewellIran war newsGold rate todayIncome Tax CalculatorPublic holidays March 2026Bank Holidays MarchTop TrendingFortnite chapter 7eid al fitr 2026Green Card HoldersPeter ThielQatar missile fireNSA Doval US envoy talksDeve GowdaRajya Sabha MP farewellChina oil tankersCM Devendra Fadnavis

NEW DELHI: The Supreme Court has objected to Sebi not closing proceedings against former directors of Sterling Biotech (SBL), Nitin and Chetan Sandesara, despite its directions to quash all pending criminal cases – pertaning to bank fraud – after they paid Rs 5,100 crore in court.A bench of Justices J K Maheshwari and A S Chandurkar agreed to hear the complaint of the Sandesara brothers and posted hearing to March 23. It asked why Sebi was “coming in the way” of the court’s order to close all cases against them.In a first-of-its-kind order to drop criminal proceedings in a multi-crore bank fraud case after the accused agreed to pay back the money, SC had last year allowed the brothers and their associates to be let off after the Centre and Enforcement Directorate agreed to their proposal to pay Rs 5,100 crore as one-time settlement to put quietus on litigations with respect to cases by CBI, ED, SFIO and I-T department.Israel Iran WarUS-Israel-Iran War News Live Updates: US pounds Iranian missile sites near key Strait of Hormuz; Iran rains down cluster bombs on Tel AvivUAE, Saudi Arabia, Kuwait, Qatar and Bahrain announces official start date of Eid Al Fitr 2026‘Trust completely shattered’: Saudi Arabia warns Iran of military retaliation after wave of Gulf attacksThey, thereafter, deposited the amount. SC had said continuation of criminal proceedings would not serve any useful purpose, considering that public money is coming back to lender banks.SC on Monday will also decide an application of local lenders, led by SBI, seeking directions for disbursal of their respective claim amounts deposited with the court’s registry by the Sandesara brothers. The lenders placed a chart showing dues of the lender banks and their respective share to be distributed.End of ArticleFollow Us On Social MediaVideos’Urgent Need For De-Escalation’: PM Modi Speaks To French President Macron On West Asia ConflictMEA Receives Consular Access Request After Arrest Of Six Ukrainians By NIA’Condemnable’: PM Modi Dials Jordan’s King, Slams Attacks On Energy Infra In West Asia’Including Russia’: MEA’s Key Message On India’s LPG, Crude Oil Sourcing Amid Global Energy Crisis’Clandestine Nuclear Nonproliferation’: India Reacts To US Intel Chief’s Remarks On Pakistan’Concerning, But No Shortage’: Centre On LPG Situation, Warns Against Hoarding & Black MarketingSC Flags “Very Unusual” Situation, Seeks Remedy Over Mamata ‘Obstructing’ ED ChargeWar, Oil & Economy: Big Risks Ahead for India Explained’India Doing The Right Thing’: Congress Backs Modi Govt On Iran War, Tewari Says ‘Not Our War’Karti Chidambaram on TN Polls: ‘Stalin Way Ahead, Vijay’s Star Power Not Enough, BJP Has No Ground’123PhotostoriesEid 2026: How to make classic Hyderabadi Haleem at home for the celebrationWhat do atronauts eat? 8 categories of space food designed to keep them healthyThe ‘wall up’ test: A simple daily check to detect hidden back pain, posture issues, and protect your spine healthEid AI photo editing prompts: Google Gemini AI prompts for Eid-ul-Fitr 2026 celebrations on Instagram, WhatsApp status, and FacebookRedditor skips dinner on first meeting after woman arrives an hour late: 5 etiquettes to follow when on a date6 animals that survive without drinking water and how they do it5 dreamy places in India that resemble European destinationsFrom having no contact with ex-CEO of Astronomer Andy Byron to struggling for a job: 5 big revelations by Kristin Cabot- the Coldplay Kiss Cam scandal womanYour heart after 30: Hidden changes that raise disease risk, and simple lifestyle fixes to protect it early9 must-try Rice desserts from different corners of the world123Hot PicksChina oil tankersMPsfarewellIran war newsGold rate todayIncome Tax CalculatorPublic holidays March 2026Bank Holidays MarchTop TrendingFortnite chapter 7eid al fitr 2026Green Card HoldersPeter ThielQatar missile fireNSA Doval US envoy talksDeve GowdaRajya Sabha MP farewellChina oil tankersCM Devendra Fadnavis


SC to Sebi: Why hold up court-ordered closure of Sandesara fraud case?

NEW DELHI: The Supreme Court has objected to Sebi not closing proceedings against former directors of Sterling Biotech (SBL), Nitin and Chetan Sandesara, despite its directions to quash all pending criminal cases – pertaning to bank fraud – after they paid Rs 5,100 crore in court.A bench of Justices J K Maheshwari and A S Chandurkar agreed to hear the complaint of the Sandesara brothers and posted hearing to March 23. It asked why Sebi was “coming in the way” of the court’s order to close all cases against them.In a first-of-its-kind order to drop criminal proceedings in a multi-crore bank fraud case after the accused agreed to pay back the money, SC had last year allowed the brothers and their associates to be let off after the Centre and Enforcement Directorate agreed to their proposal to pay Rs 5,100 crore as one-time settlement to put quietus on litigations with respect to cases by CBI, ED, SFIO and I-T department.They, thereafter, deposited the amount. SC had said continuation of criminal proceedings would not serve any useful purpose, considering that public money is coming back to lender banks.SC on Monday will also decide an application of local lenders, led by SBI, seeking directions for disbursal of their respective claim amounts deposited with the court’s registry by the Sandesara brothers. The lenders placed a chart showing dues of the lender banks and their respective share to be distributed.



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